Cardano News Today – Top Headline for Cardano ADA News Today, November 4th

 

  • Charles Hoskinson Speaks on Google’s Quantum Supremacy 
  • Cardano’s Founder States That he is Unbothered by Copycats

 

The co-founder of Ethereum and creator of Cardano Charles Hoskinson states that Google’s recent assertion about a quantum invention is a crisis period like Sputnik, which is the first-ever artificial Earth Satellite launched by the Soviet Union on October 4, 1957. Although some crypto supporters have been steadfast with the revelations about Google’s developments in terms of quantum computing, there have been speculations on the day when a supercomputer will be able to break Bitcoin’s blockchain technology. 

So far, Hoskinson has been able to demarcate between theory and practical. In a recent interview with Hoskinson about what he thinks of Google’s Quantum supremacy, he replied thus: “According to their definition: yes. Unfortunately, there is a huge delta between what they’ve done and what’s required to use quantum computers to become problematic for cryptography. But it is a major milestone. It’s an example of the endless and relentless progress that companies can make once they’ve set their mind to something, and they have the people to execute”.

Hoskinson believes that the milestone Google and IBM have been able to achieve regarding Quantum will encourage major technology giants such as Microsoft and Apple to research deeper and make quantum computing a certainty. When asked about his fears about duplicating the Cardano code from GitHub, he replied: “I hope they do…It means that there’s diversity. It means we’re cool enough to copy and that people care and they pay attention. Bitcoin has been copied over 2,000 times. Has it hurt Bitcoin? Has the price of Bitcoin collapsed? Has Bitcoin’s growth been slowed down? No. Imitation is the surest sign of success. You can put an apple on a phone but there is only one Apple.”

In the interview, Hoskinson also spoke on the importance and power of cryptocurrencies, he states that he is not worried about the government shutting down Cardano, stating the issue Facebook’s Libra project is facing is due to the influence of Custodians. He went thus: “If you say, ‘this is worth a dollar’ because it’s backed by a dollar, someone has to hold the dollar. It’s just that simple. Some entity has to control that because the dollar is not digitized. You can’t put it into a smart contract. So it’s really difficult to decentralize a stablecoins at the moment. So as a consequence, you have a central point of failure, and that’s a great example of the power of cryptocurrencies”.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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